Major investments secured by Singapore in 2022

SINGAPORE secured a total of S$22.5 billion in fixed asset investments in 2022, according to the Economic Development Board on Thursday (Feb 9). Here are some of the major investments secured last year:

United Microelectronics Corporation (UMC)

US$5 billion Electronics

The Taiwanese chipmaker UMC is setting up a new microchip factory here, with production expected to start in 2024. It will produce 22 and 28 nanometre chips to support the boom in 5G and auto electronics.

Cariflex

Over US$350 million Chemicals

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Cariflex, a subsidiary of South Korea’s DL Chemical, is building the world’s largest – and Singapore’s first – plant for polyisoprene latex, which is used in high-value medical applications such as surgical gloves and condoms. The plant on Jurong Island is the manufacturer’s largest capacity expansion to date.

Pall Corporation

US$100 million Chemicals

United States-headquartered Pall Corporation is setting up a new manufacturing facility in Singapore, which is set to complete between late 2023 and early 2024. The new facility is expected to more than double the filtration, separation and purification supplier’s current production capacity.

Hilleman Laboratories

S$80 million Biomedical manufacturing

Dehli-based vaccine research organisation Hilleman Laboratories broke ground on a 30,000 square feet current Good Manufacturing Practices facility last February. The new facility, together with an existing research and development facility at Biopolis, will form Singapore’s first vaccine and biologics development and manufacturing hub.

GOOD Meat

S$61 million General manufacturing industries

GOOD Meat, the cultivated meat division of US food technology company Eat Just, will soon open a new meat production facility in Singapore. The plant is expected to have the capacity to produce “ten of thousands of pounds” of lab-grown meat per year.

Advanced Micro Devices (AMD)

Over US$50 million Research and development

American semiconductor company AMD has plans to expand and upskill its Singapore workforce over the next three years. The expanded team will focus on high performance computing tasks such as developing hardware and products; analysing devices; and researching artificial intelligence.